The EUR/GBP cross gains traction to around 0.8610 during the early European session on Friday. The Euro (EUR) strengthens against the Pound Sterling (GBP) amid hopes that Russia will end the war in Ukraine.
The EUR/GBP cross trades in positive territory near 0.8670 during the early European session on Thursday, bolstered by optimism surrounding the European Union (EU) and the United States (US) trade deal. The European Central Bank (ECB) interest rate decision will take center stage later on Thursday.
The Euro is trading higher on Friday, supported by a weaker Pound, following a raft of downbeat macroeconomic figures in the UK. The pair has breached the top of the last two weeks' trading channel between 0.8600 and 0.8640 and is trading at 0.8645 at the time of writing.